Friday, October 24, 2014

Osborne – as bad as Gordon Brown

UK growth slows to 0.7pc as services sector falters

Britain's dominant services sector slows sharply, though UK economy remains on course to be the fastest growing in G7 this year

Posted by hpwatcher @ 11:38 AM (4582 views)
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6 thoughts on “Osborne – as bad as Gordon Brown

  • Good comment:

    Osborne’s management of the economy has been a disaster, the state debt and deficit is just one part of it.
    He’s added £600 billion to state debt.
    The deficit is still £100 billion a year.
    He’s thieved £200 billion from savers and pensioners to give to borrowers.
    He’s reduced living standards with low wage growth and millions of non and part time jobs and forcing people into self employment.
    He’s manufactured a house price boom with his wholly misguided funding for lending and help to buy and at the same time decimated income for savers and pensioners.
    People are eroding their savings.
    Growth is based on mass immigration, debt and savings erosion.
    There’s a balance of payments disaster and insufficient business investment.
    In short Osborne has been a disaster, creating illusory and unsustainable prosperity based on debt, a broken housing market, savings erosion and mass immigration.
    He’s as bad as Brown.

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  • gravy train nuff said

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  • Under Brown we had the 2008 catastrophe.

    Osborne’s chickens will come home to roost, alas the timing will be the Fed’s choosing as they are running the show in the west. A declining force in world politics but certainly able to upset a lot of economies as they drown in debt.

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  • @3, absolutely nothing to do with a global banking crisis then?
    I’m no fan of Nu Labour but Osbourne and the Tories aren’t done undressing what’s left of your NHS for their mates in G4S and Crapita to financially rape yet either.

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  • 3. alan said…
    Under Brown we had the 2008 catastrophe.

    4. clockslinger said…
    @3, absolutely nothing to do with a global banking crisis then?

    Debatable actually.

    It was Brown who started deregulation in a major way in 1997, in an attempt to pull financial business to London. The Wall Street and the US realized what Brown was doing and Clinton followed his example – that’s when the madness started and the beginning of the run up to the 2008 crash. So, you can quite creditably point the finger at GB.

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  • “debatable actually” …. well, yes.

    If you get burgled, do you blame the burglar or the police? Maybe blaming Gordo wasn’t 100% fair. Other parties were at fault too.

    The banks were in it up to their necks. I believe they haven’t learned their lesson (and some of the EU banks still have rubbish loans on their books at over-inflated values).

    Meanwhile, Osborne’s US political friends have recently bought a chunk of the NHS blood transfusion service, so I guess the prize for doing Britain down is pretty evenly contested between Osborne & Gordo.

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